After the great financial crisis of 2008/2009, everyone was wiser for a moment. Gambling, as we knew after the bad experiences of that time, is dangerous in principle. It is particularly dangerous if you don’t even gamble with your own money, …
The European Central Bank has apparently decided to force through the restrictive path it embarked on in the summer – even if it becomes clearer every day that it is wrong. Even large institutions built on rationality like the ECB can run such a childish programme of defiance when their leadership is intellectually overwhelmed and has once surrendered completely to political pressure. …
Now even the Federal Minister of Economics knows: Germany is facing a recession. But the recession, he says immediately, will not be so bad and in 2024 things will pick up again. That’s honest policy, we don’t sugarcoat anything, we look the harsh reality firmly in the eye, …
Fifty years ago, there was a very special situation in the global economy: There was a major supply shock, oil prices rose, but oil continued to be consumed in almost unchanged quantities, oil producers made enormous profits, measured inflation rates in Western countries went up and central banks raised interest rates to fight inflation. …
